Amazon, Google, Netflix and Others Team Up for Royalty-Free Video

Seven big tech companies – including Amazon.com Inc., Google Inc. and Netflix Inc. – announced Tuesday they are teaming up to develop new media formats, starting with royalty-free video.

The companies have joined forces as the Alliance for Open Media, which also includes Cisco Systems Inc., Intel Corp., Microsoft Corp. and Mozilla Corp., to launch an open-source project. The new formats will be designed to work “across devices of all kinds and for users worldwide,” according to an announcement from the alliance.